Within his newly released personal account, named Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he chose the unorthodox academic Varoufakis as the finance minister primarily because of his worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had his own agenda which involved advancing Varoufakis's publications as well as testing out his own theories on Greece rather than truly advocating the country's financial survival.
Tsipras noted that those negotiations to avoid insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, the country found itself dangerously close to leaving the single currency area.
At stake lay not only Greece's destiny and the severe austerity policies demanded in return for financial aid from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, a move which threw the EU into deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result and agree to a rescue deal with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
He also wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were advocating Grexit.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
